What is the process of enforcing a securities arbitration award?
Enforcing a securities arbitration award in California requires certain steps to be followed. The first thing that needs to be done is to submit the award to the court for confirmation. The award must be confirmed by the court before it can be enforced. When the award is presented to the court for confirmation, the party who is requesting the enforcement must provide proof that the other party was served with the award and that the party received notice of the award. After the award is confirmed by the court, the party requesting enforcement can then proceed to enforce the award. The party can obtain a writ of execution from the court, which allows them to garnish the wages of the other party, or seize their property or other assets to pay the amount of the award. The party can also have the award recorded in the county records. This allows them to place a lien on the property of the other party, and it can prevent the other party from selling or transferring their property at least until the award can be paid. In addition, the party may obtain a charging order from the court, which requires the other party to turn over certain assets to pay the award. The party can also pursue other remedies that are available under California law. Finally, the party can seek to have the award enforced in another state if the other party has assets in that state. This is a complicated process, and it is important to consult a knowledgeable securities arbitration attorney before pursuing any of these remedies.
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